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20130101
Search Results 0 to 3 of about 4 (some duplicates have been removed)
this morning's "washington journal." host: our topic is the fiscal cliff. of we have done for last several sundays, we welcome the policy director for the concord coalition and a columnist for roll call newspaper. thank you for coming back. stan, as we stand on the edge of the fiscal cliff, is there any chance we do not go over? guest: we are relying on a senate that has been dysfunctional and avoided a filibuster when it will be really easy for one or more senators who do not like tax increases to just filibuster round and we are relying on a house that could not take the lead. it's important to state that while the official deadline is the 31st, the true this congress can continue to worked until the new congress comes in january 3rd. we have more like three days. host: joshua gordon, are we going over the cliff? what will it mean if we do? guest: in some sense, we will even if they reach a deal. this is something when you look at the contours' of the deal that have been talking about, there will still be a lot left for future decision making. even if they are able to extend taxes for th
to what happens if we go over the fiscal cliff. true, from the very beginning i have favored a comprehensive solution to put our fiscal house in order. something along the lines of wles-simpson planned. perhaps this will not only soften the blow, but also give us a sense of urgency about a grand bargain to repair our fragile house. i'm not so naive as to believe everybody will check their politics at the door. even at this late hour. but this is not a time for politicking, bickering, or partisan games. to allow the country to plunge over the fiscal cliff without any alternative plans to solve -- soft and the landing is completely unacceptable. i cannot think of anything more irresponsible than to let this great country go over the fiscal cliff. to play games with the lives of americans in such a callous way. to jeopardize the financial standing of our country and to alarm our financial markets in ways that could trigger another recession -- something has gone terribly wrong when the biggest threat to the american economy is the american congress. i repeat, sir -- something ha
of the issues the parties said they were concerned about leading into the fiscal cliff. the payroll tax cut is going to expire. no one is talking about extending that. that is the one that gives the biggest bang for the buck. host: if a deal does get done, how much of the cliff aristo going to be staring at? guest: you are staring at one cliff, the payroll tax cut going away. that is 3% of every wage earner up to $100,000 or so. that will have a big economic impact. you are approaching the debt ceiling cliff which will be another standoff. i assume that is where we will get into the discussion of spending cuts that seems to be absent from whatever deal they are talking about. guest: if there is no deal, the full tax cuts go away. the tax increases and spending cuts will go into effect. about iran fiscal policy given the time. but something in between. maybe the minimum of $200 billion and the maximum of $600 billion. host: some statistics with several charts on how it affects you in your income bracket. the richest 20% with scene increase of about $20,000 increase in taxes owed. for those m
Search Results 0 to 3 of about 4 (some duplicates have been removed)